STRs generally produce more income than LTRs, but they are more work.

Does the California government believe that wholesaler activity around the fires would only produce a net-negative?

Do not do anything that does not produce income.

Our agents want to work with us because they see the value of being part of a high-producing renovation company.

Like others have mentioned, there’s appreciation, depreciation, leverage, and tax benefits that produce a compelling risk adjusted return. 

Because, the lender is entitled to know what risk they are taking with their money.That being said, on seller financing, if someone gets sued and loses, the lien/judgement can be filed at the county, (it's not automatic, someone has to prepare and send the paperwork) which the bureaus will pick it up on producing a credit report.

Fail to produce K-1s in time for LP tax returns to completed on time, refuse to communicate with LPs, when LPs start to express frustration.Cheryl Cheryl, I'm sorry to hear this.Many investors learn expensive lessons with their early investments.Knowing nothing about this deal (because I didn't invest) I can already tell you the 24% projected return was a major red flag (in my opinion).

Quote from @Greg Scott: LOL  Very creative.It could produce a windfall, or perhaps, massive IRS penalties.  

It's mostly about making $ out of the world economy WITHOUT actually producing anything of value. 

., and I still love Cook County because I have a solid team and underwrite deals properly.I think @Paul De Luca nailed it on the head, though - it seems like you are quite risk-adverse, so maybe given your risk tolerance, it's not the best idea, but if it were me, I would not think twice about it, and find a rock start property manager who knows exactly how to vet tenants.